March 4, 2025: In a strong response to the United States’ decision to impose steep tariffs on Chinese goods, China has announced retaliatory tariffs of 10% on various US agricultural products. These include soybeans, sorghum, beef, aquatic products, fruits, vegetables, and dairy products, according to a report by Reuters.

The Chinese finance ministry confirmed that starting March 10, additional tariffs of 10%-15% will be levied on select US imports. Products such as chicken, wheat, corn, and cotton will face the highest 15% tariff.

This move follows the US government's recent decision to double tariffs on Chinese imports from 10% to 20% and introduce a new 25% duty on goods from Canada and Mexico. The tariffs, announced by US President Donald Trump on Tuesday, have sparked fears of an escalating trade war involving some of the world’s largest economies.

As tensions rise, global markets are expected to react to the latest trade measures, with analysts warning of potential disruptions in supply chains and price fluctuations in key commodities. Both China and the US have yet to indicate whether negotiations to ease trade tensions are on the horizon.